K+N expands its perishables network
Kuehne + Nagel has signed an agreement to acquire Morgan Cargo, a freight forwarder specialising in the transport and handling of perishable goods. The company is based in South Africa and runs satellite offices in key export stations such as Kenya and UK. In 2022, the company handled more than 40,000 t of air freight and more than 20,000 teu of sea freight globally, managed by 450 logistics experts.
The acquisition of Morgan Cargo complements Kuehne + Nagel's range of perishables logistics services, the company said.
Morgan Cargo was established in 1993 and currently employs more than 500 staff in South Africa. In 2000, it changed its core airfreight focus to include ocean freight service delivery.
Kuehne + Nagel has over 9,000 employees at almost 1,300 sites in close to 100 countries. It focuses on sea logistics, air logistics, road logistics and contract logistics, with a clear focus on integrated logistics solutions.
Closing of the transaction is expected during Q3/2023 and is subject to customary closing conditions, including clearance by the competent merger control authorities. (ben)